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ARM Innovation Hub
27 October, 2021 - 10:22 By Tony Quested

Abcam eyes global growth after $340m BioVision acquisition

Abcam, which is quoted on both sides of the Atlantic, believes its support for life scientists globally will be enhanced by its $340 million acquisition of California company BioVision Inc.

Abcam provides research tools to life science companies around the world and is keen to expand its influence – hence the deal to take BioVision from Boai NKY Medical Holdings. 

The Cambridge-anchored company’s CEO Alan Hirzel said that the acquisition accelerated execution of Abcam’s strategic growth plan, “enhancing in-house innovation and adding scale in the complementary biochemical and cellular assay markets.”

He added: “We are delighted to have completed this transaction and welcome our new colleagues to Abcam. Bringing BioVision’s product portfolio and capabilities into Abcam, particularly its strengths in biochemical and cell-based assays, will further enhance our ability to support life scientists globally.”

The most recently audited results of BioVision for the 12 months ended December 31 showed revenues of $33.8m – of which approximately 25 per cent were sold to Abcam – operating profit of $12.6m and net assets of $21.9m. 

Revenues included approximately $5m of COVID-19 related product sales which are not expected to recur. 

• Lazard acted as financial adviser and Latham & Watkins LLP legal adviser to Abcam in the deal.

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